This is the third time Viet Nam has mobilised capital from the international financial market, after raising a total of $1.75 billion in 2005 and 2010. The ministry held the roadshows in Singapore, Hong Kong, London, Boston, New York and San Francisco.

The ministry said on its website that the 10-year bond interest rate was 4.8 per cent per year lower than the initially expected offering of 5.125 per cent per year.

This time around, bond issuance had the lowest interest rate, with 6.875 per cent per year in 2005 and 6.755 per cent per year in 2010.

Early this week, Fitch Ratings raised the country's credit rating by one step from B+ to BB-, three notches below investment grade, citing improvements in the economy and stronger finances.

Moody upgraded its rating on Viet Nam's senior unsecured bonds to B1 from B2, citing macroeconomic stability and strengthening in the balance of payments. This successful bond sale will help minimize finance risks due to refinancing and high interest rates from foreign debts.

This third bond sale could help reduce payable interest. This debt was borrowed at a high interest rates. Though the amount of debt did not change, Viet Nam can reduce the amount of payable interest, according to Nguyen Van Nen, minister and head of the Government Office.

Refinancing leaders include HSBC, Deutsche Bank and Standard Chartered Bank.

VNS/VNN